DirectTIPS, a FT. Lauderdale, Fla.-based parent company of Tippy, a digital tipping system for the beauty industry, completed $1.5m Series A funding.
The round was led by Douglas Von Allmen, founder of Beauty Alliance, with participation from The Lehigh Valley Angel Investors’ Group and private investor Michael Caron.
The company will use the proceeds to accelerate product innovation and market expansion.
Led by CEO/President David Tashjian, DirectTIPS is the parent company of Tippy, a digital tipping system for industry professionals by industry professionals. To be launched in August 2018, the company’s technology offers a suite of tools reducing salon owners’ processing fees and improving service providers’ tips.
Industry veterans such as Pat Parenty, former President of L’Oreal’s Professional Products Division, and Michael Sampson, former General Manager of L’Oreal Prestige Professional Brands, Kérastase, and Shu Uemura and current CEO of Kate Somerville Skincare joined the Advisory Board of DirectTIPS.